Enphase Energy, Inc.
) and SolarWorld announced that they have entered into a global
strategic partnership agreement for the supply of microinverters.
The partnership's ultimate focus will be on the development of new
solar technologies and state-of-the-art products.
Enphase Energy primarily caters to the solar industry by designing,
developing and supplying microinverters which increase energy
production and provide reliability. The company delivers its
microinverters in 11 countries and has shipped more than 5 million
units to date. Microinverters are devices that enable the
conversion of direct electrical current to alternating current to
facilitate most applications of solar electric power.
Headquartered in Bonn, Germany, SolarWorld manufactures and sells
solar power solutions and has operations in Hillsboro, OR, and
Freiberg and Arnstadt in Germany. SolarWorld carries out
independent research and development and is committed towards
providing clean energy solutions worldwide.
Solar World announced that Enphase Energy will be its primary
supplier of microinverter systems for its custom-engineered system
solutions in the U.S. The partnership will be extended to the
distribution networks of both the companies around the world.
The demand for renewable energy is gradually on the rise given the
growing awareness of environmental conservation. To tap the rising
demand for solar products and services, Enphase Energy is currently
expanding its operations through partnerships with various players
in the industry.
Recently, Enphase has also partnered with Groupe Solution Energie,
a provider of advanced residential solar solutions. The partnership
will concentrate on the development of sustainable solar in France,
Switzerland and Belgium. Enphase will be the exclusive inverter
technology provider for Groupe Solution's advanced solar
Earlier this month, Enphase Energy entered into an agreement with
Puerto Rico's New Energy Consultants to provide affordable solar
energy to residential and commercial customers in Puerto Rico and
the Caribbean markets.
The Energy Information Administration ("EIA") expects power
production from renewable sources to grow 1.8% in 2014 in the U.S.
EIA also expects utility-scale solar capacity to nearly double
between 2013 and 2015 which will drive demand for
Enphase Energy currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the utility space include American States
Water Company (
), Aqua America Inc. and (
) Artesian Resources Corp. (
). All these stocks sport a Zacks Rank #2 (Buy).
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